India’s Aditya Birla Fashion and Retail Ltd said on Wednesday it would buy a 51% stake in the Sabyasachi brand, best known for high-end wedding wear favoured by Bollywood celebrities and rich business families.
The offering of 17,994,117 American Depositary Shares (ADSs) represents 17,994,117 ordinary shares, including the full exercise by the underwriters of their option to purchase 2,347,058 additional ADSs.
For the first time, the Italian designer has presented his couture collection in Milan, channeling the fresh, carefree attitude of young sophisticates with an aesthetic that is both sober and precious.
Paris fashion weeks shows often don’t only take place in Paris anymore. Due to the pandemic, entire seasons now take place online, and many “phygital” shows actually take place in other countries, or even continents.
Italian leather goods specialist Valextra has named Xavier Rougeaux to be its new chief executive officer; while veteran luxury executive Ralph Toledano joins its board. The appointments are effective immediately.
Health & beauty retail giant Walgreens Boots Alliance has named Rosalind (Roz) Brewer as its new CEO, effective March 15. She’ll join the board too as she succeeds CEO Stefano Pessina, who’s becoming executive chairman.
Furla is reorganizing its management, confiding the role of president to current CEO Alberto Camerlengo, who will be replaced as chief executive by Mauro Sabatini, previously head of leather goods manufacturer Effeuno.
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